What Is Hash rate? Hash rate is a unit of measure to determine the speed in which a computer’s chipset can mine cryptocurrency. It can also represent the total amount of hash power a cryptocurrency has mining on its network.
What is a hashrate & how does it work?
Miners must compete using their machines to solve a difficult mathematical problem. "Hashrate" refers to the total combined computational power that is being used to mine and process transactions on a Proof-of-Work blockchain, such as Bitcoin and Ethereum (prior to the 2.0 upgrade).
How does hashrate affect the value of a cryptocurrency?
Thus, hashrate will generally follow the price of a cryptocurrency. The higher the price, the more valuable the crypto reward -- which coaxes more miners into the business of managing the blockchain. Data by YCharts . For Bitcoin specifically, the hashing algorithm difficulty adjusts up and down depending on how high the hash rate is.
